$XRP Perpetual Futures Show Signs of Improved Investor Sentiment

The XRP perpetual futures market on Binance has shown signs of improvement in investor sentiment, according to CryptoQuant. The funding rate for $XRP contracts rose back into positive territory after a volatility spike in July. The funding rate reached approximately 0.00138, while the 30-day Z-score was recorded at 0.21, indicating that long positions are beginning to regain momentum.

CryptoQuant noted that the funding rate had previously fallen sharply into negative territory, suggesting investors were temporarily shifting to short positions. However, the recent rise in funding rates and positive Z-scores indicate buyers have regained strength after the downward trend.

While the current data suggests a slight bias in favor of buyers, market positioning has not yet reached extreme levels. The continued rise in funding rate and Z-score could indicate expanding buying momentum in $XRP.